tax relief calculation

G

goltw99

Guest
Evening, would anyone know how much tax I could reclaim if I pay a lump sum of 16k into a new pension before 31st Oct and put it against 2008 income...

approx. figures for 2008 were gross 80k, income tax paid 24k

Am I right in thinking it's 41% of 16k or is that too simple?!


Also, could I reclaim PRSI from 2008 if it was class S1?


Thanks in advance.
 
would need your age, to see what is allowable percentage of relevant earnings
 
At age 39 you can get tax relief for up to 20% of your relevant earnings. I should have realised that's where the €16000 comes from.
You paid top rate tax on more than the €16,000, so yes, the tax refund should be 41% of the €16000. No relief for Prsi on Class S though.
 
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